[HISTORY: Adopted 1-14-2002 by Ord. No. 144; amended 7-11-2016 by Ord. No. 745. Subsequent amendments noted where applicable.]
There is hereby created a commission to be known as the "Tax Increment Financing Commission of the City of Moscow Mills, Missouri" (the "Commission").
The Commission shall serve as an advisory board to the City as it relates to the consideration of tax increment financing proposals submitted by interested parties or initiated by any public agency in accordance with the Act. The Board of Aldermen hereby authorizes and approves the exercise by the Commission of only those powers that are required by the Act to be exercised by the Commission, as follows:
The Commission shall hold public hearings and give notices pursuant to Sections 99.825 and 99.830 of the Act on proposed redevelopment plans, redevelopment projects and designation of redevelopment areas and amendments thereto.
The Commission shall vote on all proposed redevelopment plans, redevelopment projects and designations of redevelopment areas and amendments: thereto, within 30 days following completion of a hearing on any such plan, project designation or amendment and shall make recommendations to the City within 90 days of a hearing referred to in Section 99.825 of the Act concerning adoption of or amendment to redevelopment plans, redevelopment projects and/or designation of redevelopment areas.
The Commission shall elect from among its members a Chairman, Vice Chairman and Secretary. Meetings of the Commission shall be open to the public to the extent provided by law and a record shall be kept of each meeting. The Commission may establish rules and procedures not in conflict with City ordinances or policies or the Act and shall meet as required to fulfill its obligations set forth in the Act.
The Commission shall consist of 11 members, six of whom shall be appointed by the Mayor with the consent of a majority of the Board of Aldermen, and five of whom shall be appointed as provided in the Act. The members appointed by the Mayor shall serve terms of four years, except two of the initial appointments shall be for a term of two years and two of the initial appointments shall be for a term of three years. The members appointed by the other taxing jurisdictions as provided in the Act shall serve from the time that the affected school district(s) and other affected taxing jurisdictions are notified in writing of a proposed redevelopment plan, or designation of a redevelopment area until final approval or disapproval of the redevelopment plan, redevelopment project or designation of a redevelopment area by the City.
The appropriate officials of the City are hereby directed to provide notice to other taxing districts of the establishment of the Commission in the manner required by the Act.
It shall be the policy of the City to consider the use of tax increment financing for those projects which demonstrate a substantial and significant public benefit by eliminating blight, financing desirable public improvements, strengthening the employment and economic base of the City and other taxing jurisdictions, increasing property values, reducing poverty, creating economic stability, upgrading older neighborhoods and areas, and facilitating economic self-sufficiency.
The City hereby adopts the following procedures for bids and proposals for the implementation of redevelopment projects:
The City or the Commission shall solicit proposals with respect to the implementation of each proposed redevelopment project.
Each request for proposals shall state the primary objectives of the proposed redevelopment area or redevelopment project.
Each request for proposals shall provide reasonable opportunity for any person to submit alternative proposals or bids.
Each request for proposals shall be mailed to those persons or firms which the City (or its designee) or the Commission (or its designee) determines might be interested in submitting a bid, and shall be published in the legal newspaper and a local newspaper both of general circulation in the City. Each request for proposals shall provide at least 30 days for the submission of a proposal.
Each proposal must demonstrate that "but for the" use of tax increment financing, the project is not feasible and would not be completed.
Criteria for the selection of proposals will include the impact of the proposed project on the City and other taxing jurisdictions, including the projected term for which tax increment financing will be utilized. The City or the Commission may establish such additional criteria as it deems appropriate for the selection of bids and proposals: provided, such criteria shall be generally stated in the request for proposals.